The proposed bill would amend current statutes related to the Government Property Lease Excise Tax (GPLET) by introducing several significant updates. It would prohibit the abatement of GPLET revenue designated for school districts, ensuring that these funds remain intact during the abatement period. Additionally, the bill would require government lessors to maintain a public database of GPLET leases, post lease agreements on their websites, and include specific information about each lease, such as the county assessor's parcel number and the lessee's name. It would also add community college districts to the list of entities that must receive notifications regarding proposed government property improvements and mandate that notices include estimates of property tax revenue foregone during the GPLET lease term. Moreover, the bill would require the Arizona Department of Revenue to post annual GPLET tax return reports on its website and remove the GPLET lease and abatement period reduction. It would also limit the abatement of tax for development agreements approved after the effective date of the amendment, restricting it to amounts designated for counties, cities, towns, and community college districts, while explicitly stating that the proportional amount for school districts cannot be abated. Overall, these updates aim to enhance transparency and accountability in the management of GPLET revenues while safeguarding funding for educational institutions.

Statutes affected:
Introduced Version: 15-971, 42-6202, 42-6204, 42-6206, 42-6209, 15-947, 15-961, 41-1276, 15-447, 15-943, 15-973, 15-255, 15-904, 15-766, 15-767, 37-521, 42-5029, 42-5029.02, 35-173, 42-6208, 42-18053, 42-6203
Senate Engrossed Version: 42-6202, 42-6204, 42-6206, 42-6209, 42-6208, 42-18053, 42-6203